Regulation

Hector Sants has warned London's position as a global financial centre is under threat because the UK's financial sector is not rethinking its business models quickly enough to keep pace with political upheaval and regulatory change.

Business secretary Vince Cable could take action against Fred Goodwin and a small number of former Royal Bank of Scotland (RBS) directors over the bank's collapse.

Former billionaire Allen Stanford, who stole $7bn from his investors in a Ponzi scheme, has been sentenced to 110 years in US courts.

Investment Quorum's investment committee is looking to deploy cash piles into the markets on its model portfolios as it urges clients to "be brave" and embrace opportunities found in market volatility.

The government has confirmed its plans to force banks to ring-fence their retail operations, as well as other measures recommended by the Independent Commission on Banking (ICB).

Charles Stanley, the stockbroking and investment management group, reported pre-tax profits fell 37% to £8.5m for the year ended 31 March 2012.

A Conservative peer has drawn parallels between the collapse of Arch cru and the Bernie Madoff scandal, stressing the need for the regulator to do more to protect consumers.

Outgoing Financial Services Authority (FSA) chief Hector Sants has claimed the run on Northern Rock could have been avoided if the central bank had taken on board his recommendations.

Jamie Dimon, the CEO of JPMorgan, will today admit London-based traders who cost the bank more than $2bn this year "did not have a requisite understanding of the risks they took".

Advisers with clients in the suspended EEA Life Settlements Fund are to be offered an exit strategy following the Financial Services Authority's (FSA's) decision to ban the asset class for retail investors.